Raoul Pal Claims He Never Owned or Understood Terra (LUNA). Here's What He Said Six Months Ago

Investor and economist Raoul Pal, founder of Real Vision media platform, denies the fact he supported LUNA, a core native cryptocurrency of collapsed blockchain Terra. Crypto Twitter recommends that he not delete his earlier tweets - though he might want to.

"I've never understood it": Raoul Pal on LUNA

Cryptocurrency enthusiast @PeterParadoxGG shared on Twitter that he had poured almost $500,000 he was saving for 13 years into Terra (LUNA) following the recommendations of Raoul Pal and Mike Novogratz. Then, the token collapsed to almost zero values.

Ive never owned it, recommended it or even understood it...

HOT Stories

Morning Crypto Report: XRP to Break First ETF $1 Billion This Week, Shiba Inu (SHIB) Teases 29% Price Upside, Bitcoin to $125,000 Is Main Scenario Now: Bollinger Bands

Ripple CEO Launches Holiday Anti-Scam Campaign

Crypto Market Prediction: XRP Price Crash Hides Something, Bitcoin Bounce to $90,000 Possible, Is Dogecoin (DOGE) Downtrend Ending?

Brandt: Bitcoin Bear Market to Last for Months

— Raoul Pal (@RaoulGMI) May 25, 2022

Responding to his tweet, Mr. Pal claimed that he personally never owned Terra (LUNA), never recommended it and even never understood how it works.

Twitter users immediately started retweeting Mr. Pal's pro-LUNA statements. For instance, exactly six months ago, he called Solana, Polkadot, Avalanche and Terra his favorite large-caps.

Of the larger ones - SOL, LUNA, DOT and AVAX

— Raoul Pal (@RaoulGMI) November 25, 2021

Also, he made a similar statement on March 10, 2022, calling LUNA a "good" token. One of his followers attached a video of Raoul Pal's November interview with HedgeEye, where he also calls Solana and Terra viable alternatives to Ethereum (ETH).

Exchanges and services will not support Terra 2.0

Mr. Pal denied all accusations, claiming his quotations were taken out of context. He reiterates that he does not invest in DeFi, as he does not fully understand it.

As covered by U.Today previously, LUNA and associated stablecoin TerraUSD (UST) collapsed following massive withdrawals from Anchor Protocol (ANC) yield farming module.

You Might Also Like

Tue, 05/24/2022 - 11:34

Terra Debunks Claims of "Hard Fork," Rather It Says It Will Create New One

ByTomiwabold Olajide

Terraform Labs' Do Kwon proposed a number of plans to restore Terra (LUNA), including launching a new blockchain. However, some services stated that they would not support the new network.